Mohawk Industries (NYSE:MHK) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Mohawk Industries (NYSE:MHK) from a buy rating to a hold rating in a research note published on Monday.

Other research analysts have also recently issued research reports about the stock. Loop Capital decreased their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Bank of America lowered their price target on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company cut their price objective on Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Evercore ISI lowered their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial cut their price target on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.21.

Mohawk Industries Stock Down 3.1 %

Shares of NYSE MHK opened at $101.47 on Monday. The business has a 50-day simple moving average of $109.82 and a two-hundred day simple moving average of $122.21. Mohawk Industries has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a market cap of $6.34 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. Mohawk Industries’s revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts anticipate that Mohawk Industries will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MHK. Citadel Investment Advisory Inc. increased its position in shares of Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company’s stock valued at $1,467,000 after buying an additional 100 shares during the period. Huntington National Bank increased its holdings in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after acquiring an additional 119 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company’s stock worth $3,054,000 after buying an additional 120 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company’s stock worth $680,000 after buying an additional 121 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Mohawk Industries by 3.8% during the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company’s stock valued at $378,000 after purchasing an additional 122 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.